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Financial Tips for Christmas. Part 2

Christmas will soon be here and also the urge to spend. Your pay cheque will be arriving in a few weeks. You have worked hard all year and you may or may not get a bonus.

During the Christmas season many consumers tend to exceed their budget and spend too much on gifts, preparations and festivities. By following a few simple financial tips, you will be able to enjoy your Christmas without having to worry about your financial state in January.

Caymanian Times wants you to enjoy the season and have given you 7 tips each week to consider before withdrawing that cash, writing that check or handing over that credit/debit card.

1) Be honest to yourself. Create a Christmas expense budget. Make a list of items that you really need to purchase and stick with it.

2) Take advantage of real Christmas specials. Ask the store clerk for the original price to verify your savings.

3) Consider giving time instead of gifts. Remember it is the thought that counts not the value of the gift.

4) Combine Christmas dinners with family and friends.

5) Purchase items in bulk

6) Save 50% of your bonus if received

7) Avoid buying a new outfit for the staff Christmas party. Remember simple is elegant. Try matching from your existing wardrobe.

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